In Search of a system that need no chart no TA/FA

[prst]

let me share another strategy I came across recently..
watch out for technical analysts (? ) on cnbc or other business channels.

look out for their tips.. and do opposite of whatever they suggest

last week, apollo tyres was at 87 and they gave a buy call..
immediately it came down to 80.
now they have given a sell signal....

 

[rangarajan]

Hi RR,
The candle pointed with (4) closed below ATP. It signalled sell and we place sell order on the low price of the candle (4). The next candle didnt touch/meet our price and still pending. The second candle meet our low price and at this juncture we are in trade with short. But our stop loss remains same as the high of candle marked by (4) basis we have executed short. Though we candle (5) and (6) touch the ATP we are not trading since we are already in trade and either our traget is not met nor we hit SL.

Hope clarifies...

Cheers,
Karthik

So,to conclude,once u r in trade,alternate trades should not be initiated,till the time either the Target or S/L,which ever is earlier is met,immaterial of the Nature of Subsequent bars.(showing Buy or Sell)

T/U Karthik

 

[karthik_sri]

So,to conclude,once u r in trade,alternate trades should not be initiated,till the time either the Target or S/L,which ever is earlier is met,immaterial of the Nature of Subsequent bars.(showing Buy or Sell)

T/U Karthik

Yes...thts right...

 

[rangarajan]

Thanks to you and all others for your kind wishes.
I am based at Delhi and dengue is playing havoc here as well.As with all other things, the civic agencies response is too little,too late.
Anyway, i would request you to kindly explain the virgin ATP concept once again and if possible, with an example.
Thanks

For any stock,go thro this link

http://www.nseindia.com/products/content/equities/equities/eq_security.htm

You get say, H,L & ATP for the past 15 days.
The ATP would be touched either on subsequent day or invariably within 7days.
This is true 90% of the time.(10% it can fail or may take even 4weeks)
Till the time the ATP is not touched,it is Virgin.
You can take position Long/short accordingly.
Give yr feed back.

 

[dineshknp]

Hi Dinesh,
No system is holy grail and price don't act as per our strategy instead we act as per the price strategy. The rule which i added recently didn't come to my mind at that time of framing this strategy. When i burnt i realised and i thought why cant this be applied and the trade be avoided. Thus came this rule/logic and shared in the forum.

Cheers,
Karthik

Thanks for kind reply. So we should add in our strategy that after signal candle, if next candle not triggers our trade, we should avoid the trade.(or condition is that we will avoid the trade if next candle touches the ATP but not triggers the high/low of signal candle).

 

[prabhsingh]

For any stock,go thro this link

http://www.nseindia.com/products/content/equities/equities/eq_security.htm

You get say, H,L & ATP for the past 15 days.
The ATP would be touched either on subsequent day or invariably within 7days.
This is true 90% of the time.(10% it can fail or may take even 4weeks)
Till the time the ATP is not touched,it is Virgin.
You can take position Long/short accordingly.
Give yr feed back.

Rangarajan,

Are you saying ATP for last business day would be touched in coming day or within 7 days?

So for e.g,I choose LT for past 1 day and Average Price is coming at 1611.68.Now are you saying that LT will touch/cross 1611.68 in coming days?

 

[dineshknp]

First of all Happy Dipawali to you Karthik and all members of Traderji. I want to ask karthik for more one filter on this strategy. You have tried first 15 min candle performance? I mean to say, If first 15 min candle touches the yesterday ATP, what's its perfomance respect to others later candles? we should surely trade this or avoid it? And here we should shortlist some scripts that gives good output on this strategy. so we should short list only those scripts, whose first 15 min candles touches the ATP and avoid other scripts. Your kind opinion?

 

[rangarajan]

Rangarajan,

Are you saying ATP for last business day would be touched in coming day or within 7 days?

So for e.g,I choose LT for past 1 day and Average Price is coming at 1611.68.Now are you saying that LT will touch/cross 1611.68 in coming days?

Yes.As per 90% propablity.

 

[rangarajan]

Rangarajan,

Are you saying ATP for last business day would be touched in coming day or within 7 days?

So for e.g,I choose LT for past 1 day and Average Price is coming at 1611.68.Now are you saying that LT will touch/cross 1611.68 in coming days?

1613.75 today:thumb:

 

[karthik_sri]

First of all Happy Dipawali to you Karthik and all members of Traderji. I want to ask karthik for more one filter on this strategy. You have tried first 15 min candle performance? I mean to say, If first 15 min candle touches the yesterday ATP, what's its perfomance respect to others later candles? we should surely trade this or avoid it? And here we should shortlist some scripts that gives good output on this strategy. so we should short list only those scripts, whose first 15 min candles touches the ATP and avoid other scripts. Your kind opinion?

Happy Diwali to you and to all members of TJ...

If a buy/sell is trigerred we have to wait for a min gain of Rs.1000/- or SL to hit. If we have gained Rs.1000/- we can wait for another trade oppertunity and this applies to SL hit trade also. I have mentioned Rs.1000/- based on we buy 1000 shares with a minmum price movement of Re.1/- which will happen easily! I prefer high traded stocks like Tata Steel, Tata Motors, SBI, ICICI, L&T, ABAN, Infosys, Reliance etc. Since we trade in cash market the above referred stocks has good liquidity and trade in good volumes so that our qty is executed FULLY!

Cheers,
Karthik